THE NASDAQ climbed yesterday, led by a rally in Facebook, but the broader market’s advance was modest on mixed earnings reports.
Facebook shares scored their biggest daily percentage gain ever, soaring 31.6 per cent to a session high of $34.88 a day after the social network reported a huge jump in mobile advertising revenue.
Disappointing earnings in the cyclical sector limited the gains in both the Dow and the S&P 500.
Caterpillar was the biggest drag on the Dow, falling 1.6 per cent. General Motors and Dow Chemical profits beat expectations, but that was not enough to help the S&P 500 make a big push higher.
The Dow Jones Industrial Average rose 13.37 points, or 0.09 per cent, to end at 15,555.61. The Standard & Poor’s 500 Index added 4.31 points, or 0.26 per cent, to 1,690.25. The Nasdaq gained 25.59 points, or 0.71 per cent, to close at 3,605.19.